The Federal Reserve Bank of New York works to promote sound and well-functioning financial systems and markets through its provision of industry and payment services, advancement of infrastructure reform in key markets and training and educational support to international institutions.

The Outreach and Education function engages, empowers and educates the Second District communities that the Bank serves, especially civic leaders, students, educators, small business owners, policymakers and the general public. It furthers the Bank's commitment to the region by listening to the communities we serve and leveraging our unique attributes to positively impact school and university programs, as well as analysis and research.

New York Fed Revises TALF Master Loan and Security Agreement

The following summarizes the three changes made to the MLSA from the March 11 posting:

Revises the time at which the Fed Funds Target Rate is set from 8:00 a.m. on the applicable Loan Subscription Date to 12:00 noon on the applicable loan subscription date.

Deletes the unused definition of Ratings Eligibility Criteria.

Revises the deadline for submission of Loan Requests (the follow-up requests by Primary Dealers to Custodian) from 1:00 p.m. on each Loan Subscription Date to not later than one hour after the time when the subscription period closes as specified by Lender (such time will be posted to the TALF Website in advance of such Loan Subscription Date).